Ciena Co. (NYSE:CIEN - Get Free Report) CEO Gary B. Smith sold 6,800 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $84.86, for a total value of $577,048.00. Following the transaction, the chief executive officer now directly owns 412,149 shares in the company, valued at approximately $34,974,964.14. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ciena Price Performance
NYSE CIEN traded down $3.38 on Friday, hitting $89.74. 1,765,192 shares of the company's stock were exchanged, compared to its average volume of 2,759,345. The stock has a 50-day moving average of $84.04 and a 200-day moving average of $68.58. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The stock has a market cap of $12.75 billion, a price-to-earnings ratio of 157.44, a P/E/G ratio of 1.66 and a beta of 0.88.
Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.66 by ($0.12). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. Analysts expect that Ciena Co. will post 1.6 earnings per share for the current year.
Institutional Trading of Ciena
A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its position in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after purchasing an additional 296 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Ciena during the 3rd quarter worth about $25,000. UMB Bank n.a. lifted its position in Ciena by 424.4% in the 3rd quarter. UMB Bank n.a. now owns 451 shares of the communications equipment provider's stock valued at $28,000 after acquiring an additional 365 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Ciena by 409.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider's stock valued at $44,000 after acquiring an additional 418 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new position in Ciena in the 4th quarter valued at about $59,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CIEN. Morgan Stanley downgraded Ciena from an "overweight" rating to an "equal weight" rating and set a $63.00 price target on the stock. in a research report on Monday, October 28th. Stifel Nicolaus reissued a "buy" rating and set a $82.00 price target (up previously from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Rosenblatt Securities boosted their price objective on Ciena from $75.00 to $94.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Barclays boosted their price objective on Ciena from $67.00 to $97.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Ciena currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.77.
View Our Latest Report on Ciena
Ciena Company Profile
(
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Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
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